Did You Protest Your Property Tax Valuation?
Did You Protest Your Property Tax Valuation?
Property Tax Valuations come out in April of every year. You have 30 days to file a property tax protest if you are not satisfied with the valuation. Keep in mind, if you are homesteaded, your value should only increase 10% per year in Texas. With the high demand of people moving to Texas, the Appraisal District may have made an error and increased your value more than the standard 10%. If you are not homesteaded, this rule does not apply.
We received our valuation on a non homesteaded property and the value increased over 100%-an increase of $4,500-$5,000 additional in property tax. We filed for the protest and received a date to meet with an Appraiser. Prior to our meeting, we gathered information on other homes that had sold in our neighborhood, looked at other values in the neighborhood on the Appraisal District website, and took pictures along with getting estimates on anything needing to be done at our property.
These are the things the Appraisal District looks at when you go in for your meeting. For example, if your home needs siding or has wood rot, needs a new roof, much needed repairs, etc., you can get estimates from local contractors in the area to show not only the improvement is needed, but also how much the improvement will cost. If your home has not been painted in the last 10 years, I suggest you get an estimate for that also. The Appraisal District does take that into account also.
Our visit with the Appraisal District was very much worth the time to go in. They had compared our home to other properties that were Not Similar, therefore, they corrected their error and adjusted the value. This made a significant difference in what our tax bill will be in October. Sometimes you are talking about thousands of dollars worth of savings. It is definitely worth your time, and money to go and file the protest.
If you did not file the protest on time this year, you can go next year. The Appraisal District may even give you a break from a prior year.
If you purchased a home last year, and did not file a homestead exemption for this year-if the property is your homestead, then you can still file the homestead exemption. This will also be a savings for you. Sometimes the Appraisal District will give you the exemption even if you file it the following year and give you a refund of the overpayment.
If you purchased your home last year, and the value is more than what you paid, the Appraisal District will normally take the value back down to the purchase price. If you fail to go into their office, or file for the protest, then you will be stuck with the value they determine when they send the tax bills out in October.
In summary, it is always a good idea to review the notice the Appraisal District sends out in April of each year to determine if a Property Tax Protest is the right decision for you!
If you are Looking for a Local Realtor to Help You with Your Property Tax Valuation, or Looking to Buy or Sell in the Willis/Conroe/Huntsville Areas - Give me a call 361-688-7064. I would love to help you with your sale or purchase. Helping Buyers and Sellers in Texas since July 2003.
Here are some helpful links to find your property tax and property valuation:
Montgomery County TX Appraisal District
Harris County TX Appraisal District
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